At the Børsen Sustainable Summit in Copenhagen, Mads Nipper defended his decision to enter the Swedish PtX project on Tuesday, which was to deliver 50,000 tons of e-methanol annually. The project collapsed in the wake of Ørsted's billion-dollar writedowns in the US and helped cement the crisis that ended up costing him his job. Nevertheless, Nipper believes that the decision at the time of the investment was the right one. This is reported by Børsen.
- I don't regret that. There are other things I regret, but not that. Because if leaders only have the courage to make decisions that are absolutely certain, then we will never move the world, says Mads Nipper, CEO of Ørsted.
The project was launched at a time when the industry was at a standstill – the industry was waiting for legislation, while politicians were waiting for the industry. According to Nipper, Ørsted tried to break the deadlock in order to gain experience with e-methanol, which was predicted to play a major role in the green transition, including in shipping. He points out that Ørsted entered Flagship One with open eyes and limited the risk, as the project constituted a relatively small part of an offshore wind farm's investment. Despite the unsuccessful outcome, Nipper believes that market expectations were realistic at the time – especially in light of players like Maersk, who began investing in ships powered by e-methanol.
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